Biofrontera AG / Biofrontera publishes interim report for the 1st Quarter of 2012 . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Leverkusen, Germany - Biofrontera AG (DSE: B8F) has today published its interim report for the first quarter of 2012 on is corporate webpage. The report focuses on the corporate developments in the first three months 2012. Detailed financial figures are not being published at the end of this period.
The most important milestone for Biofrontera was the market introduction of Ameluz®, Biofrontera's new prescription drug for the treatment of actinic keratosis. EU-wide marketing and distribution of Ameluz® was authorized by the European Commission in December 2011. In February 2012 Biofrontera launched the medicinal product in Germany with its own sales organization. In preparation of the launch the sales force had been expanded, such that Biofrontera is now within the 15 pharmaceutical companies with most sales calls at German dermatologists. Through its own marketing and sales activities Biofrontera generated sales of TEUR 362 in the first quarter of 2012.
In addition, Biofrontera has formed agreements with other pharmaceutical companies about the local representation of Ameluz® in other European countries. Allergan will take responsibility for the distribution in Spain, Desitin in Denmark, Norway and Sweden, and Bipharma in Benelux. Based on the agreements that were formed in the reporting period the company received license payments of TEUR 1,550 until the middle of April.
Through the payment of the outstanding sum of TEUR 1,000 in two tranches during and shortly after termination of the reporting period Biofrontera has now fulfilled all its obligations towards ASAT AG that arose from a patent purchase contract in 2004.
To secure its liquidity Biofrontera has completed two capital increases within the reporting period. In February the base capital was increased by nominally EUR 500,000, in March by EUR 4,402,682. Through these financings the company acquired about 12.9 mln. Euro.
At the beginning of the year Biofrontera's liquid assets accumulated to TEUR 554, and on 31-03-2012, the end of the reporting period, TEUR 1,192. However, the liquidity at this day does not include the majority of the capital that arose through the financings and the license contracts, since this was booked on the company's accounts in the early days of April.
About Biofrontera AG
Biofrontera aims at attending and treating the skin, recognizing the aesthetic needs of a person's visual reflection.
Biofrontera is listed in the regulated market of the Düsseldorf stock exchange under the symbol B8F and the ISIN DE0006046113.
www.biofrontera.com (http://www.biofrontera.com)
For further information please contact:
Anke zur Mühlen
Director IR & PR
+ 49 (0) 214 87632 22
+ 49 (0) 214 87632 90
a.zurmuehlen@biofrontera.com (mailto:a.zurmuehlen@biofrontera.com)
Biofrontera AG
Hemmelrather Weg 201
D- 51377 Leverkusen, Germany
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(i) the releases contained herein are protected by copyright and other applicable laws; and
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information contained therein.
Source: Biofrontera AG via Thomson Reuters ONE
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Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Regulierter Markt in Börse Düsseldorf;
